Joint Stock Company (Corporation)
A Joint Stock Company is a limited company that can issue stock certificates, which is set up with at least five shareholders who can be real persons or a legal entities. Joint Stock Company’s stock capital is divided into shares, and the liability of the shareholders is limited with the share capital. Minimum capital requirement is 50,000 YTL. General Assembly and Board of Directors and are company organs. The features of the joint stock companies in Turkey are shown below.
| Governing Law: | Turkish Commercial Code & Capital Markets Law |
| Legal Status: | Independent Turkish Company |
| Incorporation: | Trade Registry Office |
| Founding Shareholders: | At least 1 |
| Founders Nationality: | Free |
| Capital Requirement: | At least 50.000 YTL(Minimum Share price 0,01 TRY) |
| Shareholder Liability: | Limited with the share capital |
| Dividends: | Allowed |
| Issuing Stocks: | Allowed |
| Management: | Board of min 1 members Foreigners allowed |
| Governance: | General Assembly of the Shareholders Meeting |
| Deposit Account: | Allowed |
| Transfer Of Shares: | Allowed( notary submission non-obligatory) |
| Foreign Currency: | Foreign Currency usage allowed |
| Taxation Liabilities: | Tax resident, worldwide liability. Corporation Tax at %22 (2008) |
| Dividend Withholding Tax: | 15% on dividends distributed to individual and foreign corporate shareholders (not applicable to resident entities) dividend withholding tax Depends on the double taxation agreement between Turkey and shareholder company’s country. |
| Taxes: | Salary withholding tax(monthly or three monthly)
Value added tax(monthly) Stamp tax Social security premiums (monthly) |
This publication has been prepared for informational purposes only. None of information contained in this publication shall constitute legal, tax, accounting advice.